Fintech

According to reports, various types of companies in Italy have implemented innovative technologies such as Blockchain, the Internet of Things (IoT),  and “Industry 4.0”. Research has shown that 94% of Italian purchasing managers used a fintech at least once.

Craig Wright is again in the spotlight of all fintech news agencies. Bitcoin’s creator, as he calls himself, has already threatened three people with lawsuits for defamation and libel. Meanwhile, McAfee promises to reveal the real identity of Bitcoin’s founder Satoshi Nakamoto.  

A pilot blockchain project set to provide products of Italian textile industry with a traceability feature, which will defend the Italian brand, has been presented by the Ministry of Economic Development (MISE) on March 13. The fintech initiative is planned to become a role model for all other industries manufacturing Made in Italy products.

Blockchain has been steadily integrated into different aspects of everyday life. Now it is time for the fintech to go beyond its ordinary use cases and become a part of data processing in the legal system. Italy is one of the countries at the forefront of adopting innovative technologies.

The financial banking institutions in Italy must change to blockchain decisively because a conservative reaction, targeted at minimizing technological developments and limited to just meeting compliance obligations, may not guarantee endurance in the market. Carmelo Barbagallo, head of supervision in Bank of Italy, revealed on Feb 8, 2019 in Napoli, Fasi reports.

11/02/2019 Singapore: LaLa World, a Singapore based FinTech organization, launched its multi- cryptocurrency wallet today. The wallet, christened ARAX, supports multiple Blockchains, coins,  and tokens natively. Arax Wallet will address the absence of utility of cryptocurrencies which has impeded global adoption of these digital assets.

The intervention of the Italian regulator in the field of distributed ledger technology (DLT) was provoked by several reasons, including the extremely categorical definition of DLT and the need for amendments to smart contracts. The group of experts appointed by the government will develop a national strategy concerning the use of financial technologies in Italy.

The future of crypto and its underlying technology blockchain has been bothering people since the creation of Bitcoin. How can the blockchain achievements be used to the best advantage of each person? Italians know the fintech has a great chance to become a leading industry in the country.

The national authorities have developed a new vision regarding initial coin offerings (ICOs). The investigation process into Korean crowdfunding platforms took nearly 3 months to form a thorough understanding of the fintech market in the country. As a result, it turned out that many companies have bypassed the ICO ban by moving business overseas.